-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QpKAr8p5Ebyp1hpbc7kYmcZmFfSezqAYhCQLtyeoreMYiM/cmaB/QHwkea0hda2v jykm3ebDEnwBoW/QKXUVNA== 0000910484-97-000120.txt : 19971222 0000910484-97-000120.hdr.sgml : 19971222 ACCESSION NUMBER: 0000910484-97-000120 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971215 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19971219 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: SANTA FE ENERGY RESOURCES INC CENTRAL INDEX KEY: 0000086772 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 362722169 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-07667 FILM NUMBER: 97740955 BUSINESS ADDRESS: STREET 1: 1616 S VOSS RD STE 1000 CITY: HOUSTON STATE: TX ZIP: 77057 BUSINESS PHONE: 7137832401 MAIL ADDRESS: STREET 1: 1616 S VOSS ROAD STE 1000 CITY: HOUSTON STATE: TX ZIP: 77057 FORMER COMPANY: FORMER CONFORMED NAME: SANTA FE NATURAL RESOURCES INC DATE OF NAME CHANGE: 19900111 8-K 1 SANTA FE ENERGY RESOURCS, INC. FORM 8-K ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ---------------------------- Date of Report (Date of earliest event reported): December 15, 1997 SANTA FE ENERGY RESOURCES, INC. (Exact name of Registrant as specified in its charter) Delaware 1-7667 36-2722169 (State or other jurisdiction (Commission File No.) (I.R.S. Employer of incorporation) Identification No.)
1616 South Voss Road, Suite 1000 Houston, Texas 77057 (Address of principal executive offices) (Zip Code) (713) 507-5000 (Registrant's telephone number, including area code) Item 5. Other Events On December 15, 1997, Santa Fe Energy Resources, Inc. ( the "Company"), announced that the Board of Directors authorized the repurchase of up to $50 million of the Company's Common Stock, and that the Board of Directors approved a capital expenditure budget for 1998 of approximately $277 million. The press release announcing these developments is filed as Exhibit 99.1 to this Current Report on Form 8-K, and the contents of such Exhibit are incorporated herein by reference. Item 7. Exhibits Exhibit 99.1 -- Press Release dated December 15, 1997. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. SANTA FE ENERGY RESOURCES, INC. By: /s/ David L. Hicks _______________________________ David L. Hicks Vice President Law and General Counsel Date: December 17, 1997 EX-99.1 2 SANTA FE ENERGY RESOURCES, INC. PRESS RELEASE Exhibit 99.1 [LOGO] SANTA FE ENERGY RESOURCES, INC. news RELEASE 1616 South Voss, Suite 1000 Houston, Texas 77057 Contact: Kathy E. Hager Phone: (713) 507-5000 (713) 507-5315 SANTA FE ENERGY ANNOUNCES STOCK PURCHASE Houston, Texas -- December 15, 1997 Santa Fe Energy Resources (NYSE:SFR) today announced that the Board of Directors has authorized the repurchase of up to $50 million of the Company's common stock. Based on the current market value of the common stock, this would allow the Company to repurchase about 4 percent of the approximately 103 million shares outstanding. "We believe that our common stock is undervalued given the Company's near term production growth and the substantial long term growth potential represented by our exploration program," said James L. Payne, Chairman, and CEO of the Company. He continued, "The stock repurchase is an attractive investment and is a means of building shareholder value." The Board of Directors also approved a capital expenditure budget for 1998 of approximately $277 million. The Company believes its operating cash flow and existing credit facility will be sufficient to meet capital and operating requirements in 1998 and any share repurchases. The purchases are to be made from time to time in the open market or directly from shareholders at prevailing market prices. Shares repurchased will be available for use under the Company's employee benefit and stock option plans to minimize dilution to existing shareholders. Santa Fe Energy Resources is an independent oil and gas exploration and development company with headquarters in Houston, Texas. It has production in the United States, Argentina and Indonesia with additional exploration activities in other regions of the world. Its common stock is traded on the New York Stock Exchange under the symbol SFR. This news release may contain forward-looking statements within the meaning of the Securities Litigation Reform Act. These projections and statements reflect the company's current views with respect to future events and financial performance. Actual results could differ materially from those projected as a result of certain factors. A discussion of these factors is included in the Company's periodic reports filed with the Securities and Exchange Commission including its Annual Report on Form 10-K for the year ended December 31, 1996. -----END PRIVACY-ENHANCED MESSAGE-----